v3.22.4
Accumulated Other Comprehensive Loss
 9 Months Ended
Dec. 31, 2022
Accumulated Other Comprehensive Loss [Abstract]  
Accumulated Other Comprehensive Loss
Note 18: Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss were as follows:

 
Three months ended December 31, 2022
    
Nine months ended December 31, 2022
  
   
Foreign
Currency
Translation
    
Defined
Benefit
Plans
    
Cash Flow
Hedges
    
Total
    
Foreign
Currency
Translation
    
Defined
Benefit
Plans
    
Cash Flow
Hedges
    
Total
  
Beginning balance
  
$
(86.0
)
  
$
(108.4
)
  
$
(0.9
)
  
$
(195.3
)
   $ (39.1 )   $ (111.1 )   $ 0.7     $ (149.5 )
                                                                 
Other comprehensive income (loss) before reclassifications
    
22.5
      
-
      
1.3
      
23.8
       (24.4 )     -       0.1       (24.3 )
Reclassifications:
                                                                
Amortization of unrecognized net loss (a)
    
-
      
1.3
      
-
      
1.3
       -       4.0       -       4.0  
Realized losses – net (b)
    
-
      
-
      
0.4
      
0.4
       -       -       -       -  
Income taxes
     -      
-
      
(0.2
)
    
(0.2
)
     -       -       (0.2 )     (0.2 )
Total other comprehensive income (loss)
   
22.5
      
1.3
      
1.5
      
25.3
       (24.4 )     4.0       (0.1 )     (20.5 )
                                                                 
Ending balance
  
$
(63.5
)
  
$
(107.1
)
  
$
0.6
    
$
(170.0
)
   $ (63.5 )   $ (107.1 )   $ 0.6     $ (170.0 )

 
Three months ended December 31, 2021
    
Nine months ended December 31, 2021
  
   
Foreign
Currency
Translation
    
Defined
Benefit
Plans
    
Cash Flow
Hedges
    
Total
    
Foreign
Currency
Translation
    
Defined
Benefit
Plans
    
Cash Flow
Hedges
    
Total
  
Beginning balance
  
$
(33.6
)
  
$
(125.8
)
  
$
0.2
    
$
(159.2
)
   $ (31.0 )   $ (130.8 )   $ 0.6     $ (161.2 )
                                                                 
Other comprehensive income (loss) before reclassifications
    
(3.4
)
    
-
      
0.4
      
(3.0
)
     (6.0 )     -       1.1       (4.9 )
Reclassifications:
                                                                
Amortization of unrecognized net loss (a)
    
-
      
1.6
      
-
      
1.6
       -       4.9       -       4.9  
 Realized gains – net (b)
     -       -       (0.2 )     (0.2 )     -       -       (1.2 )     (1.2 )
Unrecognized net pension loss in disposed business (c)
     -       -       -       -       -       1.7       -       1.7  
Income taxes
    
-
      
-
      
-
      
-
       -       -       (0.1 )     (0.1 )
Total other comprehensive income (loss)
   
(3.4
)
    
1.6
      
0.2
      
(1.6
)
     (6.0 )     6.6       (0.2 )     0.4  
                                                                 
Ending balance
  
$
(37.0
)
  
$
(124.2
)
  
$
0.4
    
$
(160.8
)
   $ (37.0 )   $ (124.2 )   $ 0.4     $ (160.8 )
  (a)
Amounts are included in the calculation of net periodic benefit cost for the Company’s defined benefit plans, which include pension and other postretirement plans. See Note 4 for additional information about the Company’s pension plans.
  (b)
Amounts represent net gains and losses associated with cash flow hedges that were reclassified to net earnings.
  (c)
As a result of the sale of the air-cooled automotive business in Austria, the Company wrote off $1.7 million of net actuarial losses related to its pension plan as a component of the loss on sale recorded during the first quarter of fiscal 2022.  See Note 1 for additional information.